Couple of hundred grand on a baseball card?

[packs]

It was just two guys bidding against each other. A perfect storm for auctioneers. The buyer will never recoup half of what he paid.

[rjackson44]

great buy ..60 million was the estimate ,so much for that ,,

[LEHR]

Originally Posted by packs

The buyer will never recoup half of what he paid.

I'd personally completely disagree with this. If you follow that art market there have been multiple new records set at every big art auction for the last 12-18 months. The market is on fire for the big, hip and trendy names. This sale will only fuel the desire for this artists work and there are many people out there with more money then common sense.

Just my two cents.

[packs]

Yes but if you read the account of the sale it was 2 bidders going head to head for more than 10 minutes. You would have to duplicate that scenario in order for a similar sale to take place.

[LEHR]

Originally Posted by packs

Yes but if you read the account of the sale it was 2 bidders going head to head for more than 10 minutes. You would have to duplicate that scenario in order for a similar sale to take place.

That was my point. This sale will only fuel the desire to own this piece or another piece from the artist in the future. Just because these were the only two bidders today doesn't mean they would be the only two bidders if the piece was put up for auction a year from now. At times the modern art market seems to me like a giant d**k measuring contest with far more money changing hands than in our sports hobby/industry.

Again, just my personal opinion.

[packs]

Ah, that is a really good point actually.

[2dueces]

I started collecting prints and as my expendable income grew I now only collect originals. I specifically collect oil paintings by R. Atkinson Fox. You will see his prints all over ebay and sometimes confused with Maxfield Parrish with the same style with Art Deco girls. I now have 11 originals by Fox. Don't think I'm completely done yet. One did wander into the ARS a few years back and I'm sure you can google it.

[ls7plus]

Originally Posted by LEHR

That was my point. This sale will only fuel the desire to own this piece or another piece from the artist in the future. Just because these were the only two bidders today doesn't mean they would be the only two bidders if the piece was put up for auction a year from now. At times the modern art market seems to me like a giant d**k measuring contest with far more money changing hands than in our sports hobby/industry.

Again, just my personal opinion.

Ah, but is that where we're heading in the next 2, 3, or 4 decades? The most valuable coin in a very well researched book on the top 100 coins was at around $20,000,000 7 or 8 years ago--it wasn't until the 1970's, as best I can recall, that one topped $100K. Watch out for the 1914 Baltimore News Ruth!

I know we hate to be priced out of the market, but thoughts, anyone?

Regards,

Larry

[brass_rat]

Don't get too excited, everyone. It may be telling that "Tobacco" -- also by Basquiat -- only sold for $1.2m.
http://www.sothebys.com/en/auctions/...761/lot.9.html

Seriously though, here are some quotes, papers, and links to consider. No opinions on my part.

https://www.nytimes.com/2017/05/18/a...t-auction.html

"...Mr. Maezawa, the 41-year-old founder of Contemporary Art Foundation, who last year set the previous auction high for Basquiat, paying $57.3 million for the artist’s large 1982 painting of a horned devil at Christie’s."

"Whether one active collector makes a market remains to be seen. It will take another major Basquiat to test the sustainability of this $100 million level."


http://www.brandeis.edu/departments/...ndeis_WP71.pdf

"One recent development is the third-party guarantee, also known as the irrevocable bid. The auction house finds a potential buyer who
agrees to pay a guaranteed price if the hammer price is lower. If the hammer price is higher, the seller and the guarantor split the difference after the commission, with some exceptions."

Would it be possible then, that the phone buyer was the third-party guarantor with knowledge that Mr. Maezawa would be a likely candidate to be bidding to win? Googling high-end art auction information leads one to a variety of interesting information. Several tactics in the art auction world may surprise people, myself included.

I believe the Sotheby's catalog did indicate that a third-party guarantor was utilized on this lot.

http://www.sothebys.com/en/auctions/...61/lot.24.html

Cheers,
Steve

[steve B]

Well, someone has to be the one saying it.

That painting is ugly as (expletive deleted)*
There's a few million other things I'd spend 110 mill on if I had that kind of money.

How can you tell if art is "expensive"?
If I really like it it's at least fairly expensive.
If I really hate it...it's REALLY expensive.

Steve B
*No, not actually deleted, I figured I'd save time and not write it.

[Gradedcardman]

Originally Posted by packs

It was just two guys bidding against each other. A perfect storm for auctioneers. The buyer will never recoup half of what he paid.

And we are assuming that either of the bidders care about what they sell it for in the future ?

[Tennis13]

As long as there is a thread on modern art, anyone know how the market for Shepard Fairey stuff eventually sorted itself out?

[wolf441]

Any thoughts on value in the current market??!!

[JustinD]

Originally Posted by Tennis13

As long as there is a thread on modern art, anyone know how the market for Shepard Fairey stuff eventually sorted itself out?

Not sure what the question is, are you looking for values?

[1952boyntoncollector]

I heard the Mona Lisa would grade a PSA A and be a POP 1, would be nice to see it in a holder...buy the painting not the holder..

[packs]

In art the term would be "Buy the art not the artist". There are a lot of "collectors" who would spend thousands of dollars on a peace sign drawn by Picasso and not even think about buying a painting they actually like if there's not a brand name attached to it.

[insidethewrapper]

I'm glad I didn't come across this painting in a garage sale , I would have thrown it in the garbage and lost millions. It is ugly, ugly, ugly !. I just don't understand art. If I drew that in Kindergarden , I would have received an "F". The letter "A" is crossed out etc. I can't believe people actually think this is a good painting.

[Tennis13]

Originally Posted by JustinD

Not sure what the question is, are you looking for values?

Just sort of price trajectory? After the 2008 Obama campaign and growth of street art, I was curious if he remained hot and his prices appreciated or he really cooled off?

[packs]

There are a whole bunch of prints on eBay.

[JustinD]

Originally Posted by Tennis13

Just sort of price trajectory? After the 2008 Obama campaign and growth of street art, I was curious if he remained hot and his prices appreciated or he really cooled off?

Well, personally I think he has overproduced so other than prints that hold personal interest to a specific buyer I do not see room for growth and likely a massive crash.

To many collectors his art was already overdone well before 2008, I have one of his first prints I bought in 96' which is now worth maybe a few thousand. Before he overproduced the hell out of everything it was in the 5-6k range.

I still like it because it is an Andre the Giant piece and I love Andre, lol.

I felt like adding this because it's funny after saying that, I work in this building:

[darwinbulldog]

Nice. I remember seeing a lot of his Andre stuff plastered around Austin back in the 90s. Good times.